In an era where chronic diseases increasingly impact quality of life, the healthcare system continues to focus on reactive treatment rather than prevention. Many individuals in their mid-30s and beyond experience symptoms like weight gain, decreased mental acuity, and hormonal imbalances, yet struggle to find comprehensive solutions within traditional medical frameworks. Hone Health is revolutionizing preventative healthcare through its telehealth platform specializing in hormone optimization and proactive longevity care. The company provides comprehensive treatment for a wide range of conditions including hormone imbalances, thyroid issues, menopause, sexual health, and the prevention of chronic diseases like diabetes and cardiovascular disease. Through a combination of telemedicine, at-home testing for over 40 biomarkers, and personalized treatment plans starting at $129/month, the company has already helped 300,000 patients get tested and 55,000 receive treatment. With its recent acquisition of ivee, the company now offers in-home healthcare services, enabling direct patient care and expanding its commitment to accessible, personalized treatment.
AlleyWatch sat down with Hone Health CEO and Cofounder Saad Alam to learn more about the business and its future plans.
Who were your investors and how much did you raise?
Hone Health, the leading telehealth clinic specializing in preventative and proactive longevity care, announced today that it crossed 300,000 patients tested, 50,000 patients treated, and completed a $33M Series A funding round with participation by Tribe Capital, PIF, Republic Capital, Vibe VC, Humbition, Hanwha, Gaingels, Looking Glass Capital, FJ Labs, and Agent Capital. This brings Hone Health’s total funding to $39M. Other notable angel investors that participated are Codie Sanchez, Paul and Michael Rabil (Founder of PLL), Mark & Matt Wan (Founder of Momentus), Anthony Pompliano, Austin Reif (Founder of Morning Brew), Shaan Puri, Sam Parr (Founder of The Hustle), Nikita Bier (Founder of TBH/Gas), and Fasha Majoor.
Tell us about the product or service that Hone Health offers.
In 2020, Hone Health was founded to meet the increasing demand for accessible, personalized hormone optimization solutions. The platform offers a comprehensive approach and integrates telemedicine, at-home, and in-person lab testing for 40+ biomarkers and tailored treatment plans, all overseen by expert medical professionals starting at $129/month. With the financing, Hone acquired ivee, to introduce in-home healthcare services, enabling physicians and practitioners to deliver care directly to patients in their homes. This expansion enhances patient access to high-quality, personalized treatment while underscoring Hone Health’s commitment to safety and innovation in healthcare.
What inspired the start of Hone Health?
When I turned 35, I started to experience symptoms of weight gain, loss of mental acuity and stamina, and a little bit of depression. I kicked around the healthcare system for about a year, and no one could give me a really thorough answer. And then I met a group of hormone optimization regenerative physicians, and they told me that I was suffering from low testosterone. When I started to look at how large the problem was, it really took me back because there were hormonal imbalances not only men, but also women. Right around the same time, my father was nearing the end stages of his life, and it really kind of hit me hard that all of the chronic diseases that eventually took him from us were things that were completely preventable. I was in a particular place in my life where I realized that if I took take care of myself, I won’t have the same fate and I wanted to make sure other families never have to see their parents go through the same thing. So that’s really what inspired the start of Hone Health.
How is Hone Health different?
Hone’s patient engine and proprietary EMR has collected one of the most complete data sets on hormones in the world and looks to expand and publish insights into other categories that are hugely underserved such as menopause, thyroid, and longevity care. Hone Health is now poised to expand its scope, offering a broader range of proactive and preventative healthcare services. Leveraging its expertise in telemedicine and personalized treatment plans, this investment will allow the company to address a wider array of health needs.
What market does Hone Health target and how big is it?
We’re targeting men and women between 35 and 55. There are approximately 40 million people in that market.
What’s your business model?
It is $129 to $149 per month plus the cost of medications. That is how we target men and women.
How are you preparing for a potential economic slowdown?
One thing that we have been very careful not to do is make sure that we haven’t loaded up our books too much on venture and run a relatively sustainable business that doesn’t grow too quickly.
What was the funding process like?
Once people started to see the sheer magnitude of the business and how efficiently we operated it, it became interesting for a lot of investors.
What are the biggest challenges that you faced while raising capital?
When we first started the business, low testosterone wasn’t really seen as a medical condition so we had to do a lot of work educating people around what it means to have clinically low testosterone.
What factors about your business led your investors to write the check?
We’ve got a good market, but I think the sheer size of the revenue, how fast we’ve grown it, our paybacks are probably half of what other large direct to consumer companies are, and our retention rates are about two to three times where other telehealth companies are. I think that those three things in combination really made people feel like there was a much larger market here than they may have thought.
What are the milestones you plan to achieve in the next six months?
First, scaling the new men’s and women’s businesses pretty dramatically. Second, building a component of the business that measures the efficacy, so multiple clinical trials on how well the business works and finally, building a longevity business.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Understand how much runway you truly have and if you believe there is a market under you. You have to be very honest about how fast your business can grow with the capital you can apply to it. You should get to cash flow neutral or mildly positive as fast as possible.
Where do you see the company going in the near term?
Our goal is how fast can we get to $100M recurring revenue in a sustainable manner.
What’s your favorite winter destination in and around the city?
Running the Westside Highway geared up and Celestine for Dinner.
